Chainlink Partners With US Commerce Department to Bring Economic Data Onchain

BTCC
fiverr


The US Commerce Department has partnered with Chainlink to publish key government economic statistics on public blockchains, giving blockchain applications direct access to official GDP and inflation data feeds.

Chainlink Brings US Economic Data to Public Blockchains

The Commerce Department is distributing official macroeconomic statistics through Chainlink Data Feeds. The initiative brings data from the Bureau of Economic Analysis, or BEA, to public blockchain networks for use by onchain applications.

The rollout covers six data feeds based on three major US economic indicators. These include real gross domestic product, the Personal Consumption Expenditures Price Index and Real Final Sales to Private Domestic Purchasers. Each indicator comes in two formats, covering its level and annual rate of change.

The PCE Price Index serves as the Federal Reserve’s preferred measure of inflation. Meanwhile, real GDP tracks inflation-adjusted economic output. Real Final Sales to Private Domestic Purchasers measures spending by private businesses and consumers.

Binance

Chainlink will update the feeds monthly or quarterly, depending on the BEA release schedule. As a result, blockchain users will receive updates based on the same government releases available through traditional channels.

Economic Data Goes Live Across 10 Blockchain Networks

Chainlink initially supports the government data across 10 networks. The list includes Ethereum, Arbitrum, Avalanche, Base, Botanix, Linea, Mantle, Optimism, Sonic and ZKsync. Chainlink may add more networks as demand develops.

Chainlink operates as an oracle network that connects blockchains with information from outside their networks. Through this system, blockchain applications can access official economic statistics without developers manually transferring each BEA release onchain.

Commerce Secretary Howard Lutnick said, “We are making America’s economic truth immutable and globally accessible like never before, cementing our role as the blockchain capital of the world.”

However, the Commerce Department has also used other providers for parts of its blockchain data program. A separate effort placed second-quarter 2025 GDP data on additional networks, including Bitcoin and Solana. Chainlink did not participate in that part of the program.

Chainlink Data Feeds Expand Uses for Government Statistics

Publishing economic data onchain allows blockchain applications to use government statistics directly in automated products. Potential uses include inflation-linked assets, prediction markets, trading applications and financial products that rely on macroeconomic indicators.

The arrangement also connects official government statistics with decentralized finance applications. Developers can use Chainlink feeds to build products that respond to new GDP, inflation or spending figures after the BEA publishes its scheduled updates.

Separately, Chainlink provides data infrastructure for Coinbase Tokenized Stocks on Base. Its price feeds support tokenized shares such as NVDAc, AAPLc, METAc and GOOGLc in decentralized finance applications, including lending and borrowing products.

Chainlink’s data feed infrastructure carries ISO 27001 and SOC 2 Type 1 certifications. The Commerce Department partnership adds official US macroeconomic statistics to the external information that Chainlink makes available across supported blockchain networks

For more guidance, compare the best platforms to trade tokenized stocks safely today.



Source link

Paxful

Be the first to comment

Leave a Reply

Your email address will not be published.


*